trn required in clean energy investment to limit global warming: IEA

$4 trn required in clean energy investment to limit global warming: IEA

An almost USD 4 trillion investment into is required to meet the Paris Agreement pledge to limit the global temperature increase to 1.5 degrees Celsius, the Energy Agency (IEA) said in its World Energy Outlook 2021 report.

“Getting the world on track for 1.5 °C requires a surge in annual investment in projects and infrastructure to nearly USD 4 trillion by 2030,” the report reads.

The mentioned some developing economies financing such projects, citing India’s expansion of solar panels, while also noting “persistent challenges, many of which have been exacerbated by the [COVID-19] pandemic.

The report was issued ahead of the UN Climate Change Conference, or COP26, which will take place in Glasgow from October 31 to November 12. The UN climate conference, which was cancelled last year because of the COVID-19 pandemic, will seek to speed up the implementation of the groundbreaking Paris Agreement that aims to bring annual global temperature increase to under 1.5 degrees Celsius.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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